You’ve been a solopreneur for almost two years. Your business has grown to the point where you can no longer do it all yourself. You’ve outsourced what you could, but now you need day-to-day help. It may be in sales, installation, fabrication, or service but it’s time to move beyond being a solo entrepreneur into becoming a small business. It’s time to hire your first employee, but are you ready? Check out the following links and you will be.
Before You Hire Check out These 8 Links
- Any business with employees is required by federal law to post information prohibiting job discrimination based on race, color, sex, national origin, religion, age, equal pay, disability or genetic information. EEOC Posters
- Before you can withhold Federal taxes, every employee must apply for an EIN number. EIN (Employee Identification Number) from the IRS.
- A W4 Exemptions form will need to be completed and submitted. IRS W4 form
- Here are 13 records the IRS expects kept for all employees. IRS Employment Tax Record Keeping.
- Here’s how to process deductions from social security taxes to federal income tax and everything between. IRS Understanding Employment Taxes.
- How to complete and file a W2 SSA (Social Security Administration) Employer Instructions for Filing a W2
- Employers must verify and identify every new employee by completing an I9 form USCIS (United States Citizen and Immigration Services) Completing an I9 Form
- How to apply for workers compensation insurance and other employer insurance requirements. SBA (Small Business Administration) Employer Insurance Requirements.
There’s More, but this is a Good Start
Opening and reviewing the eight links listed above will start you on the right track. However, because there are differences in state requirements, regulations evolve, and there is more to it, we recommend you seek out professional help and guidance. A Human Resources generalist should be able to help you with most, as well as accountants and attorneys that specialize in working with small businesses. Are you ready to hire your first employee?